Founded in 2006, 3DMarkets is a long-standing, licensed Forex broker, offering spread betting as well as Forex and CFD trading, on a proprietary trading platform to customers in South Africa and around the world. We were pleased to see that 3DMarkets gives traders the opportunity to set up a free Demo account with $25,000 of virtual money for risk-free practice trading. Conveniently, customers at 3DMarkets get access to the web-based trading platform via desktop and mobile devices for dynamic trading with low fixed spreads and zero% commission.
To find out more about the benefits of trading with 3DMarkets, read our in-depth review below.
3DMarkets Special Features
In our introduction to 3DMarkets, we mentioned that the brokerage offers CFD and Forex trading as well as Spread betting. At the moment of registering a live account, it’s important to choose the appropriate category, or traders could end up with the wrong type of account accidentally. We found the registration process straightforward and once the process is complete and a funding option is chosen, traders are taken to the trading platform. Notably, before traders can trade at 3DMarkets they must submit the required ID and proof of residence documents requested by the brokerage for account verification. Moreover, traders who would like to open a swap-free Islamic account can contact the customer service team for details.
The minimum deposit requirement when opening a live trading account at 3DMarkets is £200. Account benefits at 3DMarkets include low margins from £40, free ProTrader tools, a relationship manager and a 10% monthly cash back (subject to terms and conditions). Importantly, traders at 3DMarkets enjoy simple low pricing with spreads on EUR/USD currency pair from 0.8 pips and other major currency pairs such as the GBP/USD, from 1 pip.
3DMarkets Demo Account
Following account registration at 3DMarkets, customers are given the opportunity to start trading with a Demo account on the trading platform. The brokerage gives customers $25,000 of virtual money to try out any type of trading strategy without worrying about losing money. We always recommend that traders in South Africa and around the world, grab the chance to practice trading without risk, as it’s the optimal way to become familiar with the platform and all the tools available.
In our experience, some Forex brokers offer bonus incentives to attract customers to the brokerage, but they make the related bonus terms and conditions very difficult to fulfill. 3DMarkets does not offer bonuses to customers in South Africa, but there is a possibility of earning up to 10% cash back every month, based on trading volume executed on the platform. Importantly, the terms and conditions of the cash back scheme are clearly published next to the offer and we suggest that interested customers read the terms carefully before accepting to join the scheme.
3Dmarkets Trading Software
The cutting-edge software at 3DMarkets is browser-based, giving traders in South Africa direct access to the trading platform via desktop, tablet and mobile phone. The advanced platform is very easy to use and features technical chart analysis, transparent order management tools as well as ‘lighting fast’ execution (within 0.2 seconds). The minimum and maximum trade sizes vary according to the asset type, and negative balance protection is provided through the Stop-loss order on the platform. Traders can deposit funds directly from the platform interface without being distracted from their trading activities and keep a close eye on their trading history.
3DMarkets Spread Betting
Many UK traders prefer to opt for spread betting as it’s not subject to taxation by the UK tax department. 3DMarkets offers spread betting on many thousands of betting markets with competitive spreads to traders all over the globe including South Africa. As we explained earlier in this review, at the time of opening a trading account with 3DMarkets, customers must choose between CFD trading and spread betting. Interestingly, spread bets can be opened for as little as £1, making spread betting affordable to all levels of traders and especially for novice traders.
3DMarkets CFD and Forex Trading
The range of financial instruments offered for CFD and Forex trading is quite broad. Traders can choose from 12 global indices, ETFs, commodities, energy, metals as well as UK and US stocks with up to 1:500 leverage. It’s worth pointing out that trading in CFDs and Forex, at 3Dmarkets is similar to spread betting, but the contract types are different. Importantly, the execution of trades is very similar, so traders who have experience in spread betting can try out Forex and CFD trading, without surprises.
3DMarkets Customer Support Information
Customers at 3DMarkets can rely on customer support from Sunday to Friday, 24 hours a day in English only. The platform provides a UK telephone number and an email address. This left us wondering how a brokerage with so many years in the industry does not provide a live chat helpline on the interface for free instant support. A FAQs page gives answers to a broad range of trading related questions, but it doesn’t compensate for the absence of a live chat helpline, especially for customers living in South Africa, who must pay a lot to phone internationally.
Additional support is provided to customers through the educational materials published on the website at 3DMarkets. We were impressed by the user guides for various types of trading, and the video tutorials with trading strategies for Forex and CFDs. Traders who take the time to combine the educational materials with their practice trading in the Demo account mode can expect to profit more quickly from trading with 3DMarkets.
3DMarkets Payment Methods
At the time of writing this review, 3DMarkets accepted funding with credit/debit cards and bank wire transfer. We found the payment methods unusually limited at a time when digital payment methods, such as Skrill and Neteller are a ‘recognised’ way of making financial transactions quickly and easily.
The base currencies for maintaining trading accounts at 3DMarkets are the GBP, EUR, USD, and JPY. In the UK, customers do not pay a processing fee on deposits and withdrawals, unless they want an express withdrawal which costs £15. For international customers, withdrawals are charged a £15 fee by 3DMarkets. The minimum amount that clients can withdraw in £10, a very low amount compared to most Forex brokers. We saw that customers who deposit with Mastercard to their trading account at 3Dmarkets must receive their withdrawals over a bank wire transfer as Mastercard does not accept them as a matter of policy. Withdrawals are processed rapidly within one business day and customers can expect to receive their funds within 3 days. Importantly, the credit card companies and banks may charge a processing fee on transactions. This is beyond the control of 3DMarkets and part of the payment providers policies, for all transactions made using their services.
3DMarkets is owned by Spread Co Ltd. The company is licensed and regulated in the UK by the Financial Conduct Authority under the registration number 446677.
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